Material Agreement, Financial Obligation (Form 8-K)

Item 1.01 Entry into a Material Definitive Agreement.

On September 5, 2025, the Company entered into Amendment No. 1 ("Amendment No. 1") to that certain Loan and Security Agreement, dated as of February 7, 2025, by and among 26North BDC, Inc. (the "Company"), as borrower, 26North Direct Lending LP, as portfolio manager, the lenders party thereto, and JPMorgan Chase Bank, National Association, as administrative agent (the "Subscription Facility"). Amendment No. 1 amended certain terms of the Subscription Facility, including, but not limited to, amendments to (i) increase the total Financing Commitments thereunder from $250 million to $450 million, (ii) extend the scheduled termination date thereof to September 4, 2026 and (iii) modify the interest charged on advances to a rate based on SOFR, SONIA, SARON, EURIBOR or CORRA, as applicable (or, if SOFR is not available, a benchmark replacement or a "base rate" (which is the greater of the prime rate and the federal funds rate plus 0.50%), as applicable), plus a margin of 1.80% per annum.

Capitalized terms used but not defined in this Item 1.01 shall have the meanings given to them in the Subscription Facility.

The description above is only a summary of the material provisions of Amendment No. 1 and is qualified in its entirety by reference to the full text of such agreement, which is filed as Exhibit 10.1 to this current report on Form 8-K and incorporated by reference herein.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 is incorporated by reference into this Item 2.03.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits